Category: Business & Economy

Kola MMC workers to undergo robotic medical examination

Kola MMC workers to undergo robotic medical examination

MURMANSK, December 28. /TASS/. The Kola Mining and Metallurgical Company (Kola MMC, a part of Nornickel) implements a project of electronic medical examinations at its Severny mine, the company’s press service said on Friday. “By using this system, workers will have to spend less time for tests before shifts, and the tests’ quality will be higher,” the company said. Traditionally, two medical attendants from the local hospital make those examinations. The biggest problem is they have to examine very many people in limited time. Sometimes, as many as 300 people may be on the line. By using the new methods, the workers will save time,…

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Federal Customs Service transfers over $86.3 bln to Russian budget in 2018

Federal Customs Service transfers over $86.3 bln to Russian budget in 2018

MOSCOW, December 28. /TASS/. Russia’s Federal Customs Service has topped the annual budget revenues plan by 1.5%, transferring over 6 trillion rubles ($86.3 bln), the Service said in a press release on Friday. “As of December 28, 2018 federal budget revenues from tax payments exceeded 6 trillion rubles. The tax bodies fulfilled the target on budget revenues generation by 101.5%,” the Service said. Particularly, import revenues amounted to 2.932 trillion rubles ($42.2 bln), while export customs duties stood at 3.006 trillion rubles ($43.2 bln). In other media

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Crimea, Syria making first supply contracts via joint trading house

Crimea, Syria making first supply contracts via joint trading house

SIMFEROPOL, December 28. /TASS/. The Crimean-Syrian trading house registered in Crimea has entered into first contracts for supplies of grain and cables from the peninsula to Syria and reciprocal deliveries of citrus fruit and textile, Industrial Policy Minister of the Republic of Crimea Andrei Vasyuta told TASS on Friday. “The Trading House made the first agreements. These are contracts for supplies of grain and cables from Crimea and citrus and textiles in the opposite direction,” Vasyuta said. First shipments are planned to start already in January, the minister added. The trading house being a commercial company will independently determine the range of goods and methods…

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Russia and Armenia to intensify gas talks — Kremlin

Russia and Armenia to intensify gas talks — Kremlin

MOSCOW, December 28. /TASS/. Russia and Armenia will intensify their talks on gas, Kremlin spokesman Dmitry Peskov told reporters. According to him, this topic was touched upon at the meeting of the Russian President Vladimir Putin and acting Armenian Prime Minister Nikol Pashinyan in Moscow on December 27. “It was agreed to intensify the conversation on gas, because until yesterday, unfortunately, we could not state active negotiations between our Gazprom and Armenian colleagues,” Peskov said. According to him, certain deadlines for the completion of these negotiations have been set. “The time frame for the talks have been defined, because we are running out of time,” the…

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Khashoggi case not hemorrhaging Neom project, says Saudi finance minister

Khashoggi case not hemorrhaging Neom project, says Saudi finance minister

Turkish police outside the Saudi Consulate in Istanbul © AP Photo/Emrah Gurel RIYADH, December 28. /TASS/. The scandal surrounding the murder of Saudi journalist Jamal Khashoggi has not caused investors to jump ship from the Neom project, Saudi Arabia’s Minister of Finance Mohammed bin Abdullah Al-Jadaan told TASS. He commented on a report by The Financial Times saying that the crisis caused by the murder jeopardizes the Kingdom’s ability to attract financing from Western investors for Saudi projects, including the Neom mega project, which is part of the Vision 2030 transformation plan unveiled by Crown Prince Mohammad bin Salman in the autumn of 2017. “I prefer…

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Jean-Pierre Thomas appointed new board chairman of Rusal — company

Jean-Pierre Thomas appointed new board chairman of Rusal — company

HONG KONG /XIANGGANG/, December 28. /TASS/. Jean-Pierre Thomas was elected the new board chairman of Russia’s aluminum giant Rusal and will take office on January 1, 2019, the company said in a statement released via the Hong Kong stock exchange on Friday. On Wednesday, Rusal announced that its board chairman Matthias Warnig stepped down as part of the US sanctions waiver deal. In other media

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Russian Helicopters can set up 3-4 depots for service centers in Asia, America and Europe

Russian Helicopters can set up 3-4 depots for service centers in Asia, America and Europe

BANGKOK, December 27. /TASS/. The Russian Helicopters is considering an opportunity of setting up 3 or 4 warehouses in different points of the world for support of its service centers and products overseas, CEO of the holding Andrei Boginsky told TASS on Thursday. “We have a development and aftersales service program. There is a task of setting up depots for service centers in specific regions. We are reviewing development of such storage in Europe, Southeast Asia and Latin America. The European Center can be used in this case for work with North Africa,” the top manager said. Such a warehouse can be either in Thailand…

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Russia and EU officials to discuss Baltic grid exit from Russia energy system in January

Russia and EU officials to discuss Baltic grid exit from Russia energy system in January

MOSCOW, December 27. /TASS/. Russia’s Energy Minister Alexander Novak and Vice-President of the European Commission in charge of Energy Union Maros Sefcovic will discuss the withdrawal of the Baltic states’ energy grid from the energy system of Russia and Belarus at a meeting in early January 2019, and official with the Energy Ministry’s press service told TASS. “The disconnection of the energy systems of the Baltic states from synchronous operation with Russian and Belarusian networks will be discussed at a meeting of Russian Energy Minister Alexander Novak with Vice-President of the European Commission in charge of Energy Union Maros Sefcovic in Brussels in early 2019,”…

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Sanctions affect Japanese business in Russia, but promising projects remain, says expert

Sanctions affect Japanese business in Russia, but promising projects remain, says expert

TOKYO, December 27. /TASS/. Japanese business considers Russia to be a promising market, but Western sanctions are seriously affecting its activities there, Michitaka Hattori, Vice Director, Japan Institute for Russian and NIS Economic Studies, said in an interview with TASS. “The impact of economic sanctions on Japanese-Russian economic ties is very strong and is getting stronger every year. As for Tokyo’s own sanctions against Russia they are formal and don’t strike at bilateral economic contacts. However, even such formal participation of Japan is important in the system of sanctions. Our business fears of being punished and is forced to deal with Russia with extreme caution…

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Russia ready to boost wheat, meat exports to Thailand, says minister

Russia ready to boost wheat, meat exports to Thailand, says minister

BANGKOK, December 27. /TASS/. Russia is ready to boost exports of wheat and meat products to Thailand, Industry and Trade Minister Denis Manturov, who is co-chair of the Russian-Thai intergovernmental commission on bilateral cooperation from the Russian side, said at the meeting of the commission on Thursday. “We see huge potential of boosting mutual trade turnover in agriculture. Russia is ready to increase exports of its products, particularly of wheat and meat products,” he said. In this regard, Moscow positively estimates the joint efforts of veterinary and phytosanitary services of the two countries and expects mutual access to food markets to expand even further. “Particularly,…

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Forex Club, Alpari, Teletrade continue to work after their licenses revoked

Forex Club, Alpari, Teletrade continue to work after their licenses revoked

MOSCOW, December 27. /TASS/. Forex dealers Alpari Forex, Teletrade Group and Forex Club continue to work, despite revoked licenses, which was announced earlier by the Russian Central Bank of the Russian Federation, the companies told TASS. Alpari-Forex has not yet received official notification from the Russian Central Bank about revoked license and continues to work, a representative of the company told TASS. According to the representative, the company has 1,000 clients in Russia, their funds are protected in accordance with the Russian legislation. There have been no serious criticism about the company’s operations, since the company was founded in June 2017, the company’s representative told…

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Putin expects Russian-Armenian trade to continue growing

Putin expects Russian-Armenian trade to continue growing

MOSCOW, December 27. /TASS/. Trade between Russia and Armenia has been growing, there is a need to maintain this trend and boost cooperation in other areas, Russian President Vladimir Putin said at a meeting with Acting Armenian Prime Minister Nikol Pashinyan. “Our relations don’t need to be described: these are truly alliance ties filled with significant content,” the Russian leader said. He pointed out that Russia was Armenia’s largest economic partner, while bilateral trade had increased by 30% in 2017. “It [trade] grew by another 17.5% in the first ten months of the year. It is a positive trend that needs to be maintained,” Putin…

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Forex dealers with revoked licenses used it to withdraw Russian customers abroad

Forex dealers with revoked licenses used it to withdraw Russian customers abroad

MOSCOW, December 27. /TASS/. The activities of five forex dealers, whose licenses were revoked by the Russian Central Bank, were focused on aggressive advertising and withdrawing Russian clients to foreign jurisdictions, Head of the Securities Market and Commodity Market Department Larisa Selyutina said on Thursday. “All companies whose licenses have been revoked are ‘subsidiaries’ of large foreign forex dealers with recognizable brands, operating mainly in foreign forex markets. The decision to revoke is connected with the regulator’s deep concern for enormous risks for Russian citizens from the companies’ activities,” she said. “Throughout their work, they used the license of the Central Bank as an advertisement,…

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Arkhangelsk Region begins work on Arctic encyclopedia

Arkhangelsk Region begins work on Arctic encyclopedia

TASS, December 27. A working group to produce and publish the Arctic encyclopedia will be organized in the Arkhangelsk Region, the regional government’s press service said. “We have published the Pomors Encyclopedia, which widely known, and I suggest organizing a similar project to focus on the Arctic,” the press service quoted Governor Igor Orlov as saying. “We have both the necessary resources and experience.” According to Director of the Russian Arctic National Park Alexander Kirilov, organizers eye two variants of future encyclopedia. “It will be either a scientific edition, or children’s encyclopedia about the Arctic,” he told TASS. “The contents will depend on the final…

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Russia’s Central Bank revokes licenses of largest forex platforms

Russia’s Central Bank revokes licenses of largest forex platforms

MOSCOW, December 27. /TASS/. The Russian Central Bank revoked licenses of five largest Russian forex dealers – Forex Club, Fix Trade, Trustforex, Alpari Forex and Teletrade Group, the regulator said on Thursday. Licenses are revoked starting from January 27, 2019. According to the regulator, repeated violations throughout the year were the reason for revoking the licenses, namely – failure to fulfill or improper execution of the prescriptions of the Central Bank; violation of the procedure for maintaining internal accounting; violation of the requirements for the ratio of the amount of collateral provided by individuals to the company; violation of reporting procedures and provision of false…

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No reason for sharp currency fluctuations in ruble exchange rate in 2019 — minister

No reason for sharp currency fluctuations in ruble exchange rate in 2019 — minister

Russian Finance Minister Anton Siluanov © Anton Novoderezhkin/TASS MOSCOW, December 26. / TASS /. There is no reason for sharp currency fluctuations in the ruble exchange rate in 2019, First Deputy Prime Minister and Minister of Finance Anton Siluanov on Wednesday.  “In 2018, the ruble exchange rate was influenced by the exit of foreign investors from our securities and capital outflow, respectively. Next year, I hope that there will be no such outflows in such volumes. Therefore, there are no basic grounds for talking about the instability of the national currency,” Siluanov told Rossiya 1 TV channel. The Central Bank’s Financial Risk Survey, published on December 21,…

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NSDC of Ukraine imposes additional sanctions on individuals and legal entities in Russia

NSDC of Ukraine imposes additional sanctions on individuals and legal entities in Russia

© Mykola Lazarenko, Presidential Press Service via AP, Pool KIEV, December 26. /TASS/. The National Security and Defense Council of Ukraine (NSDC) at a meeting on Wednesday decided to impose additional sanctions on Russian individuals and legal entities. “Following the discussion of the issue “On application of personal special economic and other restrictive measures (sanctions)”, it was decided to support the introduction of sanctions, primarily against legal entities and individuals – Russian companies, businessmen, politicians and deputies, law enforcement officers who actively supported or contributed to aggressive actions against Ukraine,” according to the press release. In addition, “restrictive measures” have been introduced against organizers of elections…

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Putin urges business to take part in development of domestic gas motor fuel market

MOSCOW, December 26. /TASS/. Russian President Vladimir Putin suggested that domestic businesses should take part in the development of the natural gas based motor fuel market in the country. “I would like to propose the following initiative to our leading companies: to take part in the development of the market of natural gas based motor fuel, which is more environmentally friendly,” the head of state said at a meeting with representatives of the Russian business. He stressed that this work is particularly promising in the industrial centers of Russia. According to the Russian leader, this concerns “creating a modern infrastructure, a network of gas stations,…

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President Putin sees large role of big business in national project implementation

MOSCOW, December 26. / TASS /. Russian President Vladimir Putin said that he sees a large role of big business in the implementation of national projects, said he at a meeting with 59 top entrepreneurs on Wednesday. He noted that national projects are the most important areas of government work in the coming years. “Certainly, in this great work one of the key places belongs to business, without this it is difficult to imagine the development of the economy. We see you as responsible and active partners,” said Putin. He noted that, “society is counting on the involvement of business to achieve the breakthrough that…

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Russia will not run to economic isolationism, says Putin

MOSCOW, December 26. /TASS/. Russia is not going to build artificial barriers to international cooperation, President Vladimir Putin said at a meeting with representatives of Russian businesses. “We are not going to run to isolationism, of course, building some kind of barriers for international economic cooperation,” he said. “We understand very well that this in itself will restrain the development of the country,” Putin said. According to him, Russia, together with its partners in the Eurasian Economic Union, is open to trade, technological and investment exchanges, as well as to cooperation. “We will continue work on improving the business climate inside our country, simplifying administrative…

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Nord Stream-2 pipeline will not make EU dependent on Russia — German lawmaker

BERLIN, December 26. /TASS/. Russia and Europe depend on each other in energy supplies and the situation will remain unchanged when the Nord Stream 2 pipeline is put into operation, a lawmaker for the German Green party, Jurgen Trittin, said in an interview with Spiegel Online. “Saying that it [Nord Stream 2] will make us dependent on Russia would be incorrect,” said Trittin, who was Germany’s Federal Minister for the Environment, Nature Conservation and Nuclear Safety from 1998 to 2005. “The gas, which is being supplied via the pipeline, will result in mutual dependency, because the link between the supplier and the buyer is always…

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Davos Russia House 2019 reveals its official program

Davos Russia House 2019 reveals its official program

© Roscongress MOSCOW, December 26. /TASS/. The organizer of Davos Russia House 2019, the Roscongress foundation, has published the official business program of events to run on January 21-25, 2019. Russia House is a platform for promoting Russian initiatives to the international business and political communities who gather annually at the Swiss alpine resort town of Davos during the World Economic Forum. In 2017, a memorandum of understanding was signed at the St. Petersburg International Economic Forum between the Roscongress Foundation and the World Economic Forum. As a result, Russia House was assigned the status of official Russian residence. The Davos Russia House 2019 program, published…

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RDIF, Saudi partners finalize main parameters of Novomet deal

MOSCOW, December 26. /TASS/. Russia’s Direct Investment Fund (RDIF) and its Saudi partners have finalized the main parameters of the deal on Russian oilfield service company Novomet, Chief Executive Officer Kirill Dmitriev told the Rossiya 24 TV channel on Tuesday. “Saudi Aramco, which is the world’s biggest oil company, is a very important partner,” he said. “Right now, we have finalized the main parameters of the Novomet deal to supply Russian-made pumping equipment to Saudi Aramco and other companies, and Saudi Aramco will become an investor in this project.” He added that various formats of Saudi Aramco investment in Russia are now under consideration, including…

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Lukashenko and Putin to meet once again this year, says television

MINSK, December 25./TASS/. The presidents of Belarus and Russia, Alexander Lukashenko and Vladimir Putin, have decided to meet once again before the end of the year, the date will be coordinated later, Belarus-1 Television reported on Tuesday referring to Lukashenko’s Spokesperson Natalya Eismont. “The heads of state have agreed to meet again before the New Year to adopt pressing decisions,” it said. First of all, this is because the Russian president wants to get to the heart of the problems to find ways to solve them, it added. “The date of the meeting will be coordinated additionally,” it added. In other media

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Putin urges parliamentarians to more actively work with society, business

MOSCOW, December 25. /TASS/. Russian President Vladimir Putin has urged parliamentarians from the upper and lower houses to work more actively with the society, trade unions and the business. “It is necessary to bolster open and substantive work with citizen groups, with trade unions, with the business, to initiate independent civil inspections of all legislative decrees and draft laws that are worked through by the Federal Assembly,” Putin said as he met with the parliamentary leadership on Tuesday. He also asked the lawmakers to stay in close touch with their colleagues in the Russian regions. “The regional component is extremely important at the moment,” he…

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Russia and Belarus to decide on gas pricing from 2020

MOSCOW, December 25. /TASS/. Russia and Belarus should elaborate proposals on gas pricing from 2020, First Deputy Prime Minister of Russia Anton Siluanov told reporters on Tuesday after the bilateral summit. “We have gas pricing – we should decide on this issue and work out proposals on pricing for this kind of energy, starting from 2020,” the official said. Belarus carried negotiations with Russia on reduction of natural gas prices since early 2016. The dispute was settled in April 2017. Gazprom provided a discount on the gas price for Belarus in 2018-2019. The price of Russian natural gas for Belarus equals $129 per thousand cubic…

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Murmansk Commercial seaport to spend 3 bln rubles to fight coal dust

MURMANSK, December 25. / TASS /. Murmansk Commercial Sea Port has developed a program to reduce emissions of coal dust with a total investment of over 3 billion rubles, governor of the Murmansk region Marina Kovtun told TASS on Tuesday. “The company has developed a long-term environmental program with unprecedented funding in the amount of more than 3 billion rubles. The program involves the introduction of unique and advanced technologies in terms of the ecology of the port,” Kovtun said. Coal dust from fuel reloading at the Murmansk Commercial Sea Port, where coal is the main cargo, has remained one of the most acute environmental…

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Odessa mayor, MP, senior official added to Russia’s countersanctions list

MOSCOW, December 25./TASS/. Odessa Mayor Gennady Trukhanv, Opposition Bloc parliamentarian Alexander Vilkul and Ukraine’s First Deputy Minister of the Interior Sergey Yarovoy have been put on the list of Ukrainian individuals under Russian countersanctions. Their names along with the names of a number of parliamentarians from the ruling Pyotr Poroshenko Bloc, Samopomich (Self Reliance) Party and officials are on the full list made public on the website of the Russian Cabinet of Ministers. As a result, the total number of Ukrainian nationals falling under Russia’s sanctions is 576 people. The list of Ukrainian individuals and legal entities under Russian countersanctions has been expanded by 200…

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Russia’s Security Council urges coordination in conducting robotics research

MOSCOW, December 25. /TASS/. Russia’s State Security Committee has emphasized the importance of coordinating efforts by development institutions involved in robotics research. The issue was discussed at a meeting of the Security Council’s inter-departmental commission for economic and social affairs in Moscow on Tuesday. “Attention was paid to coordination by development institutions in the field of supporting projects related with the development of robotics in civilian industries and the services, research and development in that field, and training skilled specialists in the development, manufacturing, implementation and application of industrial robots,” the report says. Participants in the session said that the government sets the task of…

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Greenback blues: Russian firms face pitfalls in dollar payments with partners

Greenback blues: Russian firms face pitfalls in dollar payments with partners

Russian Finance Minister Anton Siluanov © Alexei Druzhinin/Russian Presidential Press and Information Office/TASS MOSCOW, December 25. /TASS/. Russian companies face long delays in payments in dollars with foreign partners due to coordination with OFAC (Office of Foreign Assets Control, a division of the US Treasury responsible for sanctions enforcement). At the same time, the government did not issue directives to state-owned companies to switch to settlements in national currencies, First Deputy Prime Minister, Minister of Finance of Russia Anton Siluanov told reporters on Tuesday. “So far, such directives have not been given, but it seems to me that the companies themselves are interested in receiving money…

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